Morning Bites (part 1)

⛏ Indonesia is considering deep cuts in its 2025 nickel mining quotas to boost prices, Bloomberg reports, citing sources from the country’s Energy and Mineral Resources Ministry. Per discussions within the government, ore mining quotas in Indonesia (~55% of global mined nickel supply in 2023) might be lowered to 150mnt in 2025, a significant drop from the 272mnt quota this year; however, we note that the final size of quota reductions, if they materialise at all, may be lower

In our view, such a step would help to stabilise the oversupplied (since 2022) global Ni market and create additional upside risks for the Ni price, which continues to trade below what we see as its fundamentally reasonable level (USD ~20,000/t for 2025F)

#Nickel 
https://metals-wire.com/news-reports